| Dec'17 | Dec'16 | |||||
|---|---|---|---|---|---|---|
Operating activities: | ||||||
Net income (loss) for the year | ||||||
6,647 | -13,216 | |||||
Adjustments for: | ||||||
Depreciation and depletion | ||||||
64,208 | 52,977 | |||||
Write-off of deferred stripping asset | ||||||
0 | 7,123 | |||||
Finance expense | ||||||
17,476 | 13,849 | |||||
Gain on derivatives, net | ||||||
0 | 37 | |||||
Deferred income tax expense | ||||||
22,774 | 9,907 | |||||
Interest and other income | ||||||
609 | 634 | |||||
Share-based payments | ||||||
2,720 | 983 | |||||
Unrealized foreign exchange loss | ||||||
194 | 2,670 | |||||
Operating cash flow before working capital changes | ||||||
113,410 | 73,622 | |||||
Change in non-cash working capital | ||||||
-9,828 | 18,660 | |||||
Cash provided by operating activities | ||||||
123,238 | 54,962 | |||||
Investing activities: | ||||||
Expenditures on mineral properties, plant and equipment | ||||||
123,815 | 132,355 | |||||
VAT refund relating to development activities | ||||||
0 | 25,979 | |||||
Interest received | ||||||
464 | 435 | |||||
Cash provided by (used for) investing activities | ||||||
-123,351 | -105,941 | |||||
Financing activities: | ||||||
Shares issued for cash, net of share issuance costs | ||||||
3,572 | 5,235 | |||||
Interest and associated withholding tax paid | ||||||
13,623 | 5,859 | |||||
Loan modification fees | ||||||
0 | 3,275 | |||||
Cash provided by (used for) financing activities | ||||||
-10,051 | -3,899 | |||||
Impact of foreign exchange on cash and cash equivalents | ||||||
-181 | -247 | |||||
Increase (decrease) in cash and cash equivalents for the year | ||||||
-10,345 | -55,125 | |||||